715 Elkglen Ct, Colorado Springs, CO 80906
4 beds · 4 baths · 3,820 sqft
Get a free consultation call with an expert in the mortgage assumption process.
AMAZING PRIVACY, MOUNTAIN CHARM, & PRIDE OF OWNERSHIP shine in this wonderful home situated on an Acre Lot in Cheyenne Mountain School District 12 just minutes from I-25 and Fort Carson. So many upgrades have been made to capture your attention. Stone Coated Steel Roof. Recently Restuccoed. Extensive Wood Floors throughout the first and second floors featuring oak floors with walnut and cherry accents. Iron balusters on the staircase. Vaulted Ceilings in the Entry, Living Room and Family Room. Large Updated Kitchen with maple cabinets, granite counters, stainless appliances to include gas range, double ovens, refrigerator, microwave & dishwasher, and pantry. The Kitchen is open to the spacious Vaulted Family Room with fireplace, walk out to the composite deck and windows, windows and more windows. The entire first floor is very light and bright with loads of windows to capitalize on the sunshine and the amazing views... Upstairs you will be delighted by the Overlook to the Family Room, the built in bookcases and 3 Bedrooms. The Master Bedroom is large with big mountain views, updated 5 piece Bath and an oversized closet with cedar flooring to keep the moths away. The basement offers you a walk out to the large and very private back yard. There is a 4th Bedroom and Bath in the basement, a large 2nd Family/Game Room and a Work Out Room. Plenty of storage as well. This home was originally designed and built on piers for added stability - lots of documentation to share. This uncommonly large back yard offers Wonderful Views of Cheyenne Mountain and from the front Wonderful City Lights. Composite deck and paver patios surround the house. End of cul de sac location. All kitchen and laundry appliances stay with the house. Of course there is a 3 car garage - insulated - and the snowblower and rotatiller are included. This home has been lovingly maintained and it shows!
Source: PPMLS #2506448
All values shown are estimated costs / mo.
Source: Public records
Source: PPMLS #2506448
To qualify, you must meet the current FHA or VA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 620, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.